Largo Inc T.LGO

Wainwright

[NewAgeMetal]

Just checking, the $20 is USD correct?  It seems to be the only way the get the upside % to work.

[kha341]

No its Canadian. CAD20 = C$20

[NewAgeMetal]

Ok, I thought so but then someone posted a screenshot with    a 63% upside ending up at $20 which only works if US Dissapointing given where Cooperman took us but I guess it can always be revised if they perform as expected for a couple quarters and v does actually remain in the $12 range. Was it always referred to as an "emerging" battery division or is that and the

[kha341]

The one who worries me is Carlos de Alba of Morgan Stanley. I hope he will upgrade his C$11.40 PT and change his rating from a Hold to a Buy. However it was obvious that he was not impressed with the evasive answers he got from management (and rightly so) in the CC.

[kha341]

[NewAgeMetal]

Wow, I'd forgotten about that one, $11.40 in this environment/certainly he has to raise that even giving $0 value to the battery. I guess even a $0 value to battery, it's a draw on cash

[Drhoho]

Kha, as for Morgan Stanley's analyst Carlos de Alba and, for that matter any analyst worth his/her salt, the market success of their evaluation and projection prove to be the proof in the pudding, not withstanding how positive or negative a CC may contribute to their overall evaluation. So far, and I emphasize "so far", de Alba's 31 February equal weight downgrade target of C$11

[kha341]

On 31 Jan 2022 Carlos de Alba dropped his 12-month PT from C$18 to C$11.40. The sp closed at C$10.97 on Feb 25. Now that the sp has moved up to the C$15 range I hope that he will upgrade his 12-month PT soon unless he doesn’t believe in the ability of management to deliver the growth plan. I have a lot of respect for Carlos. His pressing questions allowed us to discover the iron ore lies. With

[NewAgeMetal]

While I wholeheartedly agree with Kha in never underestimating this management's team ability to withhold/surprise or general incompetence, I just can't see how $11.40 can remain for 2022.

[kha341]

Agree. Worst still the C$11.40 = 12-month Price Target.  That mean Jan 31 2023! Btw, Do you think that the sp will be C$20 - 23 by March 2023 as estimated by Ihle of Wainwright and Andrew of RBC respectively? Way too low based on the Largo's growth plan, no?

[NewAgeMetal]

I know analyst don't do this but I feel he put them in the penalty box with the $11.40 Basically gave them a $0 contribution on every topic they couldn't/wouldn't provide a coherent answer about.  I don't think they learned as he was clearly annoyed after the first part of his question was answered, EC or PM could have jumped in a said, I can hear you aren't satisfied

[Drhoho]

Kha, all the points you outlined are well taken. The current V2O5 price ~US $12.40,if maintained at this level, may be the biggest factor of all. The Q1-22 numbers coming out mid April could effect the sp, but I am looking further forward to the Q2, Q3 ,Q4 and full year 2022 reports as well and their effect on sp. Missteps are missteps, but I have a great appreciation of where LGO BOD and

[NewAgeMetal]

For the valuation, $21-$23 I think he uses 10x multiple and assumes they need $7 vanadium to make money, and v averages $12.  We get nothing for battery - well that's maybe about right I guess - I mean I don't like it, but I've really come to believe that we are a miner. We don't have the team to be a major force in the battery world without an acquisition, maybe in

[kha341]

The following are the 12-mth PT given by the analysts last year: RBC (Andrew Young) PT = C$20 (dated March 21 2021) HC Wainwright (Heiko Ihle) PT = C$25 (dated March 19 2021) CIBC (Bryce Adams) PT = C$25 (dated April 23 2021) Morgan Stanley (Carlos de Alba) PT = C$36 (dated April 19 2021) For an average 12-mth PT of (20 + 25 + 25 + 36) / 4 = C$26.5 These guys were expecting the sp to

[ceetong]

With regard to the Ilmenite and TiO2 expansion I am extremely sceptical. I very well remember the times when an IMO notorious liar led the company and he repeatedly stated Largo was fully funded only to find out they were running out of money a few weeks later and would launch several capital increases diluting existing shareholders ad infinitum. They earned a reputation of missing every single